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Equity Markets Close Higher After US, Canada Resume Trade Negotiations
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Equity Markets Close Higher After US, Canada Resume Trade Negotiations
Jun 30, 2025 1:39 PM

04:21 PM EDT, 06/30/2025 (MT Newswires) -- US benchmark equity indexes closed higher on Monday, after the US and Canada resumed trade negotiations.

The Nasdaq was up 0.5% to 20,369.73 while the S&P 500 increased 0.5% to 6,204.95. The Dow Jones Industrial Average rose 0.6% to 44,094.77. Technology led the gainers, while consumer discretionary and energy were the only two sectors in the red.

US Treasury yields were lower, with the 10-year rate decreasing 4.5 basis points to 4.24% and the two-year rate falling 1.6 basis points to 3.73%.

The US and Canada will resume trade talks immediately, White House economic adviser Kevin Hassett said on Monday.

Canada withdrew its digital services tax on technology firms Sunday after President Donald Trump said Friday that the US was terminating all trade discussions with Ottawa over the tax.

Atlanta Fed President Raphael Bostic said Monday that he still sees a single interest rate cut this year, Reuters reported. Bostic reportedly projects three rate cuts for 2026. "I think we actually have some luxury to be patient because labor markets are actually quite solid," he said.

August West Texas Intermediate crude oil fell 0.7% to $65.08 a barrel on Monday.

In economic news, the Institute for Supply Management's Chicago purchasing managers' index fell to 40.4 in June from 40.5 in May, compared with an expected increase to 42.9 in a Bloomberg survey.

The Dallas Fed's monthly manufacturing index improved to minus 12.7 in June from minus 15.3 in May, compared with expectations for minus 12.0 in a survey compiled by Bloomberg.

In company news, Hewlett Packard Enterprise ( HPE ) and Juniper Networks ( JNPR ) shares were up 11% and 8.4%, respectively. The companies said Saturday they reached a deal with the US Department of Justice to resolve an antitrust lawsuit against Hewlett Packard's ( HPE ) proposed takeover of Juniper.

Palantir Technologies ( PLTR ) shares were up 4.3%. The company named Accenture's ( ACN ) Accenture Federal Services subsidiary as its preferred implementation partner for US federal government customers. Accenture ( ACN ) shares rose 1.1%.

Fortive ( FTV ) shares fell 3.3%. The company said it completed the spin-off of its precision technologies segment, Reliant, which will become a new publicly traded company.

Gold increased 1% to $3,319.70 per troy ounce, and silver was down 0.1% to $36.33 per troy ounce.

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